In my chart I suggested that with a possible up side to 1250 for but was also accepting 1100 zone as possible top which is of the move from 450 low - check the chart
I subsequently explained in the live sessions the potential implication of the forthcoming decline which I gather is not welcomed by many traders but might be hard lesson to learn.
The recordings are available on you tune if you wish to check them out for more details.
Here are the links https://www.youtube.com/watch?v=7XB2CDRQJxo and https://www.youtube.com/watch?v=Pw_SLXb893w
Whilst it not possible to plot out exact path of the price to possible 450-300 area, in this chart I am suggesting potential course of the price with free hand sketch to suggest overall directions and not necessarily exact levels. Also some time symmetry suggest continued decline to back end of January at least.
I really appreciate your detailed charts and updates! Thank you very much for your work and enthusiasm. You do a great job.
Can you please post a short update about your latest chart BTC/USD? What's your opinion on the recent pattern?
Do you still expect an upside move to 1100 - 1200 zone (continuation pattern)?
Or are we going to see a breakout down (descending triangle Mt Gox - Bitstamp or symmetrical triangle on Huobi China)?
Thank you very much!
However, the downside momentum seems to be running out in that case we could move up to 1100-1200 zone and could still be in Wave "B" which is not yet finished..
In this case, I see a possible Pattern that might resemble Like Mother & Baby or and Echo wave of the larger earlier wave, before the expected 5 wave decline would occur on completion.
This might then also meet the 90% retracement rule of wave "A" required for typical flat.
The main 3-3-5 Correction of the 1250 high still remains as most likely outcome of this with wave "C" downside target of 450.
Links to Youtube videos explaining the concept of 3-3-5 are
Will update this as and when appropriate.
For those of you who have been asking for link to my wallet for donation, here it is